Renovated Residential Income
For Sale
$550,000
26 W 97TH Street 1A, New York City, NY 10025
Pre-war condominium residence with updated interiors, abundant natural light, and shared laundry, bike, and storage amenities.
Property Size550 SF
Price / SF$1,000
Days on Market106
Property Features for 26 W 97TH Street 1A
General Information
Standard status
Active
Size
550 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
laundry room
bike room
storage rooms
Building Details
Building Size
550 SF
Year Built
1930
Listing Agency:
Corcoran Group
(347) 512-4143
Listed By:
Chen Mishael · License #10401212623 (NY)
(347) 512-4143
Source:
Miradorrealestate
Added: May 11
Changed: Aug 24
Last Checked: Aug 23 at 8:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corcoran Group
Investment Insights
Based on property information with market context.
This residential income property is a renovated pre-war condominium residence in an intimate 20-unit building completed in 1930. The 550-square-foot apartment includes a windowed kitchen with granite countertops, a windowed bathroom, hardwood flooring, high ceilings, generous closet storage, and an arched transition into the living area. Two large north-facing windows bring natural light into the home.
Building amenities include a laundry room, bike room, and storage rooms within the renovated basement. Central Park is directly across the street, while nearby grocery options and Columbus Square Center provide shopping and dining access. Transportation includes the B and C trains at 96th Street and Central Park West, the 1, 2, and 3 trains at 96th Street and Broadway, a crosstown bus along 96th Street and Columbus Avenue, and a Citi Bike station near Central Park West and 97th Street.
Building amenities include a laundry room, bike room, and storage rooms within the renovated basement. Central Park is directly across the street, while nearby grocery options and Columbus Square Center provide shopping and dining access. Transportation includes the B and C trains at 96th Street and Central Park West, the 1, 2, and 3 trains at 96th Street and Broadway, a crosstown bus along 96th Street and Columbus Avenue, and a Citi Bike station near Central Park West and 97th Street.
Key Highlights
- 550‑square‑foot renovated condominium residence
- Pre‑war building completed in 1930 with 20 units
- Windowed kitchen with granite countertops and windowed bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,105
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,100
$362.1K
Cap Rate 7%
$258,643
$258.6K
Cap Rate 9%
$201,167
$201.2K
Market Conditions
NOI Build-Up for 550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.7K $63.00/SF
− Vacancy
−$1.7K −$3.15/SF
EGI
$32.9K $59.85/SF
− OpEx
−$14.8K −$26.93/SF
NOI
$18.1K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$362,100
Cap Rate 7%
$258,643
Cap Rate 9%
$201,167
Alternative Uses
Best Use
Apartment 5plus
$258.6K
$226.3K – $301.8K
NOI $18,105 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $152,064 @ 7.0% cap · market cap 27.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
12,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Pre-war condominium residence with updated interiors, abundant natural light, and shared laundry, bike, and storage amenities.
Where is this residential income property located?
The property is located at 26 W 97TH Street 1A New York City, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 550‑square‑foot renovated condominium residence; Pre‑war building completed in 1930 with 20 units; Windowed kitchen with granite countertops and windowed bathroom
